Sprint cuts 4,000 staff
22 January 2008
Sprint cuts 4,000 staff
US carrier Sprint is to cut 4,000 jobs as financial pressure and subscribers losses continued through the fourth quarter of 2007.
The headcount reduction is expected to be completed in the first half of the year and will include management and non-management positions.
Sprint aims to save around $700-$800m per year by the end of 2008 because of the cuts.
The company is also planning to close more than 4,000 third party distribution points and to close approximately 125, or 8 per cent, of its company owned retail spots.
Late last week, Sprint reported a net gain of 500,000 subscribers through wholesale channels, growth of 256,000 Boost Unlimited users and net additions of 20,000 subscribers within affiliate channels. But these gains were decimated by net losses of 683,000 postpaid subscribers and 202,000 prepaid users.
At the end of 2007, Sprint served a total subscriber base of 53.8 million subscribers including 40.8 million postpaid, 4.1 million prepaid, 500,000 Boost Unlimited, 7.7 million wholesale and 850,000 subscribers through affiliates.
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